Recent Insider Transactions • Jul 24
Executive Chairman & CEO recently bought HK$536k worth of stock On the 20th of July, Kwong Yee Hung bought around 292k shares on-market at roughly HK$1.84 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Kwong Yee has been a buyer over the last 12 months, purchasing a net total of HK$1.5m worth in shares. Announcement • Jul 11
Ten Pao Group Holdings Limited Reports Group Earnings Guidance for the Six Months Ended 30 June 2026 Ten Pao Group Holdings Limited reported group earnings guidance for the six months ended 30 June 2026. The Group is expected to record a decrease in the profit attributable to owners of the Company for the six months ended 30 June 2026 by approximately 40% to 50% as compared to a profit attributable to owners of the Company of approximately HKD 212 million for the six months ended 30 June 2025. The expected decrease is mainly attributable to sustained geopolitical tensions, rising oil prices and a rally in precious metal prices, which have led to a substantial increase in raw material cost putting gross profit under pressure, and the negative impact of RMB appreciation on the export business during the period. Board Change • Jul 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Ferheen Mahomed was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Jun 30
Now 22% overvalued Over the last 90 days, the stock has fallen 11% to HK$2.12. The fair value is estimated to be HK$1.73, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.7% over the last 3 years. Earnings per share has grown by 11%. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$1.99, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 18x in the Electrical industry in Hong Kong. Total returns to shareholders of 138% over the past three years. Upcoming Dividend • Jun 15
Upcoming dividend of HK$0.066 per share Eligible shareholders must have bought the stock before 22 June 2026. Payment date: 17 August 2026. Payout ratio is a comfortable 35% but the company is paying out more than the cash it is generating. Trailing yield: 5.5%. Lower than top quartile of Hong Kong dividend payers (7.1%). Higher than average of industry peers (1.4%). Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to HK$2.94, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 23x in the Electrical industry in Hong Kong. Total returns to shareholders of 231% over the past three years. Declared Dividend • Mar 23
Final dividend increased to HK$0.066 Dividend of HK$0.066 is 10% higher than last year. Ex-date: 22nd June 2026 Payment date: 17th August 2026 Dividend yield will be 5.8%, which is higher than the industry average of 4.6%. Sustainability & Growth Dividend is covered by both earnings (24% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 5.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 21
Full year 2025 earnings released: EPS: HK$0.37 (vs HK$0.37 in FY 2024) Full year 2025 results: EPS: HK$0.37 (down from HK$0.37 in FY 2024). Revenue: HK$5.56b (up 3.2% from FY 2024). Net income: HK$380.6m (flat on FY 2024). Profit margin: 6.8% (down from 7.1% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 20
Ten Pao Group Holdings Limited, Annual General Meeting, Jun 12, 2026 Ten Pao Group Holdings Limited, Annual General Meeting, Jun 12, 2026. Announcement • Mar 10
Ten Pao Group Holdings Limited to Report Fiscal Year 2025 Results on Mar 20, 2026 Ten Pao Group Holdings Limited announced that they will report fiscal year 2025 results on Mar 20, 2026 Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$2.67, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 18x in the Electrical industry in Hong Kong. Total returns to shareholders of 144% over the past three years. Buy Or Sell Opportunity • Jan 19
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to HK$2.53. The fair value is estimated to be HK$2.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 11%. Recent Insider Transactions • Jan 04
Chairman & CEO recently bought HK$84k worth of stock On the 29th of December, Kwong Yee Hung bought around 40k shares on-market at roughly HK$2.11 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth HK$251k. Kwong Yee has been a buyer over the last 12 months, purchasing a net total of HK$642k worth in shares. Recent Insider Transactions • Dec 23
Chairman & CEO recently bought HK$137k worth of stock On the 18th of December, Kwong Yee Hung bought around 68k shares on-market at roughly HK$2.02 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Kwong Yee's only on-market trade for the last 12 months. Reported Earnings • Sep 28
First half 2025 earnings released: EPS: HK$0.20 (vs HK$0.17 in 1H 2024) First half 2025 results: EPS: HK$0.20 (up from HK$0.17 in 1H 2024). Revenue: HK$2.95b (up 19% from 1H 2024). Net income: HK$211.7m (up 20% from 1H 2024). Profit margin: 7.2% (up from 7.1% in 1H 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 26
Upcoming dividend of HK$0.062 per share Eligible shareholders must have bought the stock before 03 October 2025. Payment date: 27 October 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 5.2%. Lower than top quartile of Hong Kong dividend payers (6.8%). Higher than average of industry peers (2.2%). Declared Dividend • Aug 23
First half dividend increased to HK$0.062 Dividend of HK$0.062 is 19% higher than last year. Ex-date: 3rd October 2025 Payment date: 27th October 2025 Dividend yield will be 5.7%, which is higher than the industry average of 4.6%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 21% per year over the past 9 years. However, payments have been volatile during that time. Earnings per share has grown by 16% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 22
First half 2025 earnings released: EPS: HK$0.20 (vs HK$0.17 in 1H 2024) First half 2025 results: EPS: HK$0.20 (up from HK$0.17 in 1H 2024). Revenue: HK$2.95b (up 19% from 1H 2024). Net income: HK$211.7m (up 20% from 1H 2024). Profit margin: 7.2% (up from 7.1% in 1H 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 22
Ten Pao Group Holdings Limited Declares Interim Dividend for Six Months Ended 30 June 2025 Ten Pao Group Holdings Limited has declared an interim dividend of HK6.2 cents per share for the Period (1H 2024: HK5.2 cents), representing a payout ratio of approximately 30.2% (1H 2024: 30.5%). Announcement • Aug 12
Ten Pao Group Holdings Limited to Report First Half, 2025 Results on Aug 21, 2025 Ten Pao Group Holdings Limited announced that they will report first half, 2025 results on Aug 21, 2025 Upcoming Dividend • Jun 16
Upcoming dividend of HK$0.06 per share Eligible shareholders must have bought the stock before 23 June 2025. Payment date: 14 July 2025. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 6.9%. Lower than top quartile of Hong Kong dividend payers (7.5%). Higher than average of industry peers (3.2%). Announcement • Jun 13
Ten Pao Group Holdings Limited Approves Final Dividend for the Year Ended 31 December 2024 Ten Pao Group Holdings Limited at its Annual General Meeting Held on 13 June 2025 approved final dividend of HKD 0.06 per share for the year ended 31 December 2024. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to HK$1.40, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 12x in the Electrical industry in Hong Kong. Total returns to shareholders of 3.9% over the past three years. Declared Dividend • Mar 24
Final dividend of HK$0.06 announced Shareholders will receive a dividend of HK$0.06. Ex-date: 23rd June 2025 Payment date: 14th July 2025 Dividend yield will be 5.6%, which is higher than the industry average of 4.6%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 21% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 31% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 22
Full year 2024 earnings released: EPS: HK$0.37 (vs HK$0.32 in FY 2023) Full year 2024 results: EPS: HK$0.37 (up from HK$0.32 in FY 2023). Revenue: HK$5.39b (up 12% from FY 2023). Net income: HK$383.9m (up 17% from FY 2023). Profit margin: 7.1% (up from 6.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Electrical industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 2% per year and the company’s share price has also increased by 2% per year. Announcement • Mar 21
Ten Pao Group Holdings Limited, Annual General Meeting, Jun 13, 2025 Ten Pao Group Holdings Limited, Annual General Meeting, Jun 13, 2025. Announcement • Mar 11
Ten Pao Group Holdings Limited to Report Fiscal Year 2024 Results on Mar 21, 2025 Ten Pao Group Holdings Limited announced that they will report fiscal year 2024 results on Mar 21, 2025 Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$1.62, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 7x in the Electrical industry in Hong Kong. Total loss to shareholders of 3.9% over the past three years. Upcoming Dividend • Sep 27
Upcoming dividend of HK$0.052 per share Eligible shareholders must have bought the stock before 04 October 2024. Payment date: 25 October 2024. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 10.0%. Within top quartile of Hong Kong dividend payers (8.2%). Higher than average of industry peers (4.7%). Reported Earnings • Aug 27
First half 2024 earnings released: EPS: HK$0.17 (vs HK$0.13 in 1H 2023) First half 2024 results: EPS: HK$0.17 (up from HK$0.13 in 1H 2023). Revenue: HK$2.47b (up 5.6% from 1H 2023). Net income: HK$175.8m (up 29% from 1H 2023). Profit margin: 7.1% (up from 5.8% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electrical industry in Asia. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Declared Dividend • Aug 26
First half dividend increased to HK$0.052 Dividend of HK$0.052 is 86% higher than last year. Ex-date: 4th October 2024 Payment date: 25th October 2024 Dividend yield will be 11%, which is higher than the industry average of 4.6%. Sustainability & Growth Dividend is covered by both earnings (34% earnings payout ratio) and cash flows (72% cash payout ratio). The dividend has increased by an average of 26% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 23
Ten Pao Group Holdings Limited Announces an Interim Dividend for the Six Months Ended 30 June 2024, Payable on 25 October 2024 Ten Pao Group Holdings Limited announced an interim dividend of HKD 0.052 per share for the six months ended 30 June 2024. Ex-dividend date is 04 October 2024. Record date is 10 October 2024. Payment date is 25 October 2024. Announcement • Aug 14
Ten Pao Group Holdings Limited to Report First Half, 2024 Results on Aug 23, 2024 Ten Pao Group Holdings Limited announced that they will report first half, 2024 results on Aug 23, 2024 Upcoming Dividend • Jun 17
Upcoming dividend of HK$0.096 per share Eligible shareholders must have bought the stock before 24 June 2024. Payment date: 15 July 2024. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 10%. Within top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (3.8%). Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$1.21, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 8x in the Electrical industry in Hong Kong. Total loss to shareholders of 38% over the past three years. Declared Dividend • Mar 24
Final dividend of HK$0.096 announced Shareholders will receive a dividend of HK$0.096. Ex-date: 24th June 2024 Payment date: 15th July 2024 Dividend yield will be 12%, which is higher than the industry average of 4.6%. Sustainability & Growth Dividend is well covered by both earnings (15% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 15% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 42% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 23
Ten Pao Group Holdings Limited, Annual General Meeting, Jun 14, 2024 Ten Pao Group Holdings Limited, Annual General Meeting, Jun 14, 2024. Reported Earnings • Mar 23
Full year 2023 earnings released: EPS: HK$0.32 (vs HK$0.29 in FY 2022) Full year 2023 results: EPS: HK$0.32 (up from HK$0.29 in FY 2022). Revenue: HK$4.82b (down 12% from FY 2022). Net income: HK$328.9m (up 11% from FY 2022). Profit margin: 6.8% (up from 5.4% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Announcement • Mar 14
Ten Pao Group Holdings Limited to Report Fiscal Year 2023 Results on Mar 22, 2024 Ten Pao Group Holdings Limited announced that they will report fiscal year 2023 results on Mar 22, 2024 Buy Or Sell Opportunity • Mar 06
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at HK$1.05. The fair value is estimated to be HK$0.86, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Earnings per share has grown by 4.6%. Buy Or Sell Opportunity • Feb 01
Now 20% overvalued Over the last 90 days, the stock has fallen 6.9% to HK$0.95. The fair value is estimated to be HK$0.79, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.7% over the last 3 years. Earnings per share has grown by 4.6%. Announcement • Dec 04
Ten Pao Group Holdings Limited Announces Change of Executive Directors Ten Pao Group Holdings Limited announced that Ms. Yang Bingbing (``Ms. Yang'') has resigned as an executive Director of the Company with effect from 1 January 2024 due to changes in work arrangements and other business commitments. Ms. Yang will remain as the chief executive officer and director of a major subsidiary of the Company and will continue to be responsible for the operations and management of the major subsidiary. The Board announced that Mr. Tse Chung Shing (``Mr. Tse'') and Ms. Hung Sui Lam (``Ms. Hung'') have been appointed as executive Directors of the Company with effect from 1 January 2024. Mr. Tse, aged 53, joined the Group in December 2010 as a financial controller, and has been appointed as the company secretary and chief financial officer of the Company with effect from June 2015 and November 2015, respectively. In addition, Mr. Tse has been appointed as the vice president of the Group with effect from 21 December 2017, and as a director of the Company's subsidiary since 2022. He is currently responsible for thefinancial reporting, corporate secretarial and investors' relationship matters of the Group. Mr. Tse has approximately 30 years of experience in auditing, accounting and corporate finance. Prior to joining the Group, he worked in the advisory assurance department in Ernst & Young, an international accounting firm, from 1992 to 2003, with his last position as a senior manager. From 2004 to 2009, he worked as a financial controller in an automation equipment manufacturing company in Hong Kong. Mr. Tse received his bachelor's degree in accountancy (honours) from the City University of Hong Kong in November 1992. He has been a member of the Association of Chartered Certified Accountants since December 1997 and became a fellow member in December 2002. Ms. Hung, aged 30, joined the Group as a special assistant to the chairman in January 2021, and is principally responsible for the administrative management and conducting marketing research for the operation of the subsidiaries of the Company. Prior to joining the Group, Ms. Hung worked as an executive assistant in the Hospital Authority from 2016 to 2020. She received her Business (International Business) honours degree from School of Professional Education and Executive Development, The Hong Kong Polytechnic University in May 2015. Recent Insider Transactions • Oct 07
Chairman & CEO recently bought HK$196k worth of stock On the 6th of October, Kwong Yee Hung bought around 192k shares on-market at roughly HK$1.02 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Kwong Yee has been a buyer over the last 12 months, purchasing a net total of HK$1.4m worth in shares. Upcoming Dividend • Oct 03
Upcoming dividend of HK$0.028 per share at 6.0% yield Eligible shareholders must have bought the stock before 09 October 2023. Payment date: 27 October 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 6.0%. Lower than top quartile of Hong Kong dividend payers (8.1%). Higher than average of industry peers (3.8%). Reported Earnings • Aug 26
First half 2023 earnings released: EPS: HK$0.13 (vs HK$0.13 in 1H 2022) First half 2023 results: EPS: HK$0.13 (in line with 1H 2022). Revenue: HK$2.34b (down 22% from 1H 2022). Net income: HK$136.7m (up 2.8% from 1H 2022). Profit margin: 5.8% (up from 4.4% in 1H 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Electrical industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 2% per year. Announcement • Aug 26
Ten Pao Group Holdings Limited Announces an Interim Dividend for the Six Months Ended 30 June 2023, Payable on 27 October 2023 Ten Pao Group Holdings Limited announced an interim dividend of HKD 0.028 per share for the six months ended 30 June 2023. Ex-dividend date is 9 October 2023. Record date is 13 October 2023. Payment date is 27 October 2023. Announcement • Aug 16
Ten Pao Group Holdings Limited to Report First Half, 2023 Results on Aug 25, 2023 Ten Pao Group Holdings Limited announced that they will report first half, 2023 results on Aug 25, 2023 Upcoming Dividend • Jun 07
Upcoming dividend of HK$0.033 per share at 5.9% yield Eligible shareholders must have bought the stock before 14 June 2023. Payment date: 05 July 2023. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 5.9%. Lower than top quartile of Hong Kong dividend payers (7.7%). Higher than average of industry peers (3.3%). Announcement • Jun 03
Ten Pao Group Holdings Limited Declares Final Dividend for the Year Ended 31 December 2022 Ten Pao Group Holdings Limited at the AGM held on June 2, 2023, approved to declare a final dividend of HK 3.3 cents per share for the year ended 31 December 2022. Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: HK$0.29 (vs HK$0.38 in FY 2021) Full year 2022 results: EPS: HK$0.29 (down from HK$0.38 in FY 2021). Revenue: HK$5.48b (down 14% from FY 2021). Net income: HK$296.9m (down 22% from FY 2021). Profit margin: 5.4% (down from 6.0% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Electrical industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Dec 28
Chairman & CEO recently bought HK$757k worth of stock On the 21st of December, Kwong Yee Hung bought around 584k shares on-market at roughly HK$1.30 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Kwong Yee has been a buyer over the last 12 months, purchasing a net total of HK$1.2m worth in shares. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 20% share price gain to HK$1.43, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 16x in the Electrical industry in Asia. Total returns to shareholders of 87% over the past three years. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Executive Director & VP of Business Group 1 Bingbing Yang was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 23
Upcoming dividend of HK$0.028 per share Eligible shareholders must have bought the stock before 30 September 2022. Payment date: 25 October 2022. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 5.9%. Lower than top quartile of Hong Kong dividend payers (8.5%). Higher than average of industry peers (3.0%). Major Estimate Revision • Sep 03
Consensus revenue estimates fall by 16% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from HK$7.41b to HK$6.23b. EPS estimate fell from HK$0.45 to HK$0.32 per share. Net income forecast to grow 14% next year vs 41% growth forecast for Electrical industry in Hong Kong. Consensus price target down from HK$3.86 to HK$2.50. Share price rose 14% to HK$1.44 over the past week. Reported Earnings • Aug 28
First half 2022 earnings released: EPS: HK$0.001 (vs HK$0.19 in 1H 2021) First half 2022 results: EPS: HK$0.001 (down from HK$0.19 in 1H 2021). Revenue: HK$3.00b (down 9.6% from 1H 2021). Net income: HK$133.0m (down 30% from 1H 2021). Profit margin: 4.4% (down from 5.7% in 1H 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 35%, compared to a 8.2% growth forecast for the Electrical industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Aug 27
Ten Pao Group Holdings Limited Declares Interim Dividend for the Six Months Ended 30 June 2022, Payable on 25 October 2022 Ten Pao Group Holdings Limited declares Interim dividend of HKD 0.028 per share for the six months ended 30 June 2022, payable on 25 October 2022. Ex-dividend date is 30 September 2022 and Record date is 07 October 2022. Announcement • Aug 17
Ten Pao Group Holdings Limited to Report First Half, 2022 Results on Aug 26, 2022 Ten Pao Group Holdings Limited announced that they will report first half, 2022 results on Aug 26, 2022 Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Executive Director & VP of Business Group 1 Bingbing Yang was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 15
Ten Pao Group Holdings Limited Announces Final Ordinary Dividend for the Year Ended 31 December 2021, Payable on 15 August 2022 Ten Pao Group Holdings Limited announced a final ordinary dividend of HK 5.6 cents per share for the year ended 31 December 2021. Default option: Cash. Ex-dividend date is 21 June 2022. Record date is 27 June 2022. Payment date is 15 August 2022. Announcement • Jun 18
Ten Pao Group Holdings Limited Approves to Declare A Final Dividend for the Year Ended 31 December 2021 Ten Pao Group Holdings Limited at it's AGM approved to declare a final dividend of HK 5.6 cents per share for the year ended 31 December 2021. Upcoming Dividend • Jun 14
Upcoming dividend of HK$0.056 per share Eligible shareholders must have bought the stock before 21 June 2022. Payment date: 15 August 2022. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 8.1%. Within top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (3.5%). Announcement • May 12
Ten Pao Group Holdings Limited Provides Earnings Guidance for the Six Months Ending 30 June 2022 Ten Pao Group Holdings Limited provides earnings guidance for the six months ending 30 June 2022. The Group is expected to record a decrease in profit attributable to owners of the Company for the six months ending 30 June 2022 by approximately 30%-50% as compared to a profit attributable to owners of the Company of approximately HKD 190 million for the six months ended 30 June 2021. The expected decrease is mainly due to the negative impact on customers and suppliers amid the COVID-19 pandemic and the outbreak of the warfare between Russia and Ukraine. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorated over the past week After last week's 19% share price decline to HK$1.25, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 15x in the Electrical industry in Asia. Total returns to shareholders of 68% over the past three years. Reported Earnings • Apr 29
Full year 2021 earnings released: EPS: HK$0.38 (vs HK$0.29 in FY 2020) Full year 2021 results: EPS: HK$0.38 (up from HK$0.29 in FY 2020). Revenue: HK$6.36b (up 42% from FY 2020). Net income: HK$378.6m (up 31% from FY 2020). Profit margin: 6.0% (down from 6.4% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 16%, compared to a 12% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target increased to HK$3.86 Up from HK$3.60, the current price target is provided by 1 analyst. New target price is 140% above last closing price of HK$1.61. Stock is down 22% over the past year. The company is forecast to post earnings per share of HK$0.45 for next year compared to HK$0.38 last year. Announcement • Jan 20
Ten Pao Group Holdings Limited Provides Preliminary Earnings Guidance for the Year Ended December 31, 2021 Ten Pao Group Holdings Limited provided preliminary earnings guidance for the year ended December 31, 2021. For the year, the company and potential investors that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 December 2021, the net profit attributable to the owners of the company is expected to increase by 25% to 35% as compared with the net profit attributable to the owners of the company for the year ended 31 December 2020. The expected increase in the net profit attributable to the owners of the company for the year ended 31 December 2021 is mainly attributable to the increase in customer orders and the continuous enhancement in the operation and production efficiency of the Group. Upcoming Dividend • Sep 27
Upcoming dividend of HK$0.057 per share Eligible shareholders must have bought the stock before 04 October 2021. Payment date: 26 October 2021. Trailing yield: 5.3%. Lower than top quartile of Hong Kong dividend payers (6.8%). Higher than average of industry peers (2.8%). Reported Earnings • Aug 25
First half 2021 earnings released: EPS HK$0.19 (vs HK$0.095 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: HK$3.32b (up 88% from 1H 2020). Net income: HK$190.2m (up 100% from 1H 2020). Profit margin: 5.7% (up from 5.4% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 48% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improved over the past week After last week's 15% share price gain to HK$2.47, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Electrical industry in Hong Kong. Total returns to shareholders of 279% over the past three years. Announcement • Jul 14
Ten Pao Group Holdings Limited Provides Earnings Guidance for the Six Months Ended 30 June 2021 The board of directors of Ten Pao Group Holdings Limited provided that, based on the preliminary review by the Board on the unaudited management accounts of the Group for the six months ended 30 June 2021, which have not been reviewed or audited by the independent auditors and/or the audit committee of the Company, the net profit attributable to equity holders of the Company for the six months ended 30 June 2021 is expected to increase by approximately 90% to 110% as compared with the net profit attributable to equity holders of the Company for the six months ended 30 June 2020. Based on the information currently available, the expected increase in the net profit attributable to equity holders of the Company for the six months ended 30 June 2021 is mainly attributable to the significant increase in customer orders and the continuous improvement in the operation and production efficiency. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improved over the past week After last week's 15% share price gain to HK$2.22, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Electrical industry in Hong Kong. Total returns to shareholders of 216% over the past three years. Upcoming Dividend • Jun 18
Upcoming dividend of HK$0.055 per share Eligible shareholders must have bought the stock before 25 June 2021. Payment date: 13 July 2021. Trailing yield: 5.8%. Lower than top quartile of Hong Kong dividend payers (6.0%). Higher than average of industry peers (3.8%). Announcement • May 29
Ten Pao Group Holdings Limited Declare Final Dividend for the Year Ended 31 December 2020 Ten Pao Group Holdings Limited at its Annual General Meeting held on 28 May 2021, approved final dividend of HK5.5 cents per share for the year ended 31 December 2020. 
